Aruna Dindane will miss a Premier League and an FA Cup match when he plays for Ivory Coast in the African Cup of Nations which starts on 10 January. Photograph: Frances Leader/Action Images

Portsmouth have pleaded with the football associations of Nigeria, Ghana, Algeria and Ivory Coast to waive their right to call up six of the club's first-team players for the Africa Cup of Nations two weeks before the competition starts on 10 January.

The Premier League's bottom club could enter the transfer window without the ability to strengthen a threadbare squad due to the league's player registration embargo. This has made it all the more imperative that they can call on Nwankwo Kanu, John Utaka, Aruna Dindane, Hassan Yebda, Nadir Belhadj and Kevin-Prince Boateng – who is waiting for a Ghanaian passport – for an extra week.

That would allow them to play in the league game against Arsenal on 30 December and in the FA Cup against Coventry City on 2 January. Fifa rules state that the six players have to join their international teams immediately after the Boxing Day trip to West Ham, if their national associations insist on them being available for the full fortnight before the Africa Cup of Nations starts in Angola.

Although executives at Portsmouth have made their African counterparts aware of their predicament, it is thought they are not optimistic of success.

Whenever Avram Grant loses his African contingent, he believes it is vital that he is able to recruit in January. "We will have a long, long battle to stay in the league," the manager said. "For this, we need to make the squad a little bit stronger, particularly for when we have the Africa Cup of Nations and six players won't be here. Having six players leave is too much but it's a fact – we can do nothing about this. All we can do is think about the solution and we are doing this."

To make signings, Portsmouth need to pay off outstanding instalments on several transfers deals, which would lead to the Premier League lifting its embargo.

The chief executive, Peter Storrie, is abroad trying to raise the finance required to alleviate a worsening financial situation – around £8m is needed to lift the embargo and further bills include a seven-figure payment to the former owner Sacha Gaydamak by the end of next month. There are reports that Portsmouth could be forced to sell players next month.

The club took the unusual step of issuing a statement insisting they are not heading for administration: "The owner and board of Portsmouth Football Club are disappointed at recent inaccurate media speculation regarding the club's finances and the threat of administration.

"Ali al-Faraj and his associates took over the running of the club and inherited a business that had substantial debts. Dealing with the finances has been the priority since Faraj came in to pay the players before taking over the club from Sulaiman al-Fahim.

"The club is not going into administration. If that were the case it would have happened at the end of September or early October. This week alone, HM Revenue and Customs were paid £2m and other historical arrears are being dealt with on an ongoing basis.

"The new owner has not had the benefit of TV revenue to aid the club, with the next major instalment due in January. However, he and his associates have already invested substantial funds to keep the club operating and will continue to do so." Portsmouth's next £7m TV payment will be diverted by the Premier League to creditors if transfer payments remain outstanding.

Portsmouth also denied Storrie could leave. "Peter Storrie remains chief executive and has been holding talks on behalf of the club in other parts of the world," they said. StorrieThe chief executive has seen much of his power subsumed by the arrival of Mark Jacob, Faraj's lawyer who is executive director at Fratton Park. But Storrie insisted last night that his future is at Portsmouth.

"I am not leaving this football club and I have not deserted anyone. I have already attended four meetings in Hong Kong and am also travelling to Melbourne for another one," he said of his attempt to raise investment.